The Straits Times
Published on Oct 31, 2012

Greece delays austerity vote, warns of 'chaos'


ATHENS, Greece (AP) - Greece's coalition government will delay a vote on major new austerity measures by another week, warning on Tuesday there would be financial chaos if a deal is not reached.

Finance Minister Yannis Stournaras told reporters the austerity measures, worth 13.5 billion euros (S$21.3 billion), would be submitted to parliament next week, as the three parties in government continue to disagree over new savings demanded by international bailout lenders.

Mr Stournaras denied local media reports that the bill could be broken up to ease objections by a left-wing junior coalition partner. "All of the (draft legislation) will be submitted next week. I think there is no other way to do it," he said.

Greece's bailout creditors want the austerity package passed if they are to hand over more loans that Greece needs to avoid bankruptcy.